Bau Duc Company cancels the list of investors who were about to buy 130 million shares.

One day after announcing that LPBank Securities and two other investors had purchased shares, Hoang Anh Gia Lai canceled the information, citing "reporting errors".

On the evening of November 24th, a day after announcing unusual information regarding the list of prospective investors for the private placement of 130 million shares, Hoang Anh Gia Lai Joint Stock Company (HAG) stated that there were errors that needed correction.

The HAG Board of Directors requests the cancellation of the previous resolution and will adjust the information regarding the list of prospective investors for the offering. Simultaneously, the company will finalize the registration dossier for the private placement of shares to submit to the State Securities Commission in November and December of this year.

The previously announced list of investors includes: LPBank Securities Joint Stock Company, Viet Cat Fund Management Joint Stock Company (Viet Cat Fund), and professional investor Nguyen Duc Tung Quan.

Mr. Doan Nguyen Duc - Chairman of the Board of Directors of Hoang Anh Gia Lai. Photo: Duc Dong

On the evening of November 23rd, Hoang Anh Gia Lai announced a plan to offer 130 million shares at a price of 10,000 VND per share. In the private placement plan, LPBank Securities Company is expected to purchase 50 million shares, equivalent to 4.73%; Viet Cat Fund will purchase 60 million shares, equivalent to 5.67%; and Mr. Nguyen Duc Tung Quan will purchase 20 million shares, equivalent to 1.89%.

Immediately after the announcement, HAG shares rose for three consecutive sessions to 10,400 VND per share. This is the first time HAG shares have surpassed the 10,000 VND mark in over a year. Compared to the end of September, HAG shares have increased by 40%.

Last September, HAG attempted to sell nearly 162 million shares at 10,500 VND each, expecting to raise 1,700 billion VND. However, unfavorable market conditions led to investors refusing to buy, and the plan failed.

Thi Ha

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